The overall trend on the major timeframes for CADJPY remains bullish, despite a breakdown continuation observed last week.
Current Market Overview:
The lower timeframe (M5) printed a bullish wave structure this morning.
We anticipate a corrective move below 105.76.
In the short term, a potential downside reversal is expected.
Trade Setup:
Look for shorting opportunities below 106.34, targeting a break below 105.77.
If price action breaks below 105.77, we can consider buying opportunities, aligning with the larger bullish trend.
Key Levels to Watch:
Sell Point: 106.34
Buy below: 105.77
Current Market Overview:
The lower timeframe (M5) printed a bullish wave structure this morning.
We anticipate a corrective move below 105.76.
In the short term, a potential downside reversal is expected.
Trade Setup:
Look for shorting opportunities below 106.34, targeting a break below 105.77.
If price action breaks below 105.77, we can consider buying opportunities, aligning with the larger bullish trend.
Key Levels to Watch:
Sell Point: 106.34
Buy below: 105.77
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